Tecogen Signs Contract with Brevoort East Co-op to Provide Comprehensive Turnkey CCHP System Brevoort East Invests in Efficient, Ultra low Emission Energy System
WALTHAM, Mass., Jan. 3, 2013 /PRNewswire/ -- Tecogen Inc. today announced that it has signed a contract with the Brevoort East, a luxury 323 unit high-rise co-op in Greenwich Village, NY, to provide a turnkey Tecogen Combined Cooling, Heating and Power (CCHP) System. The Tecogen system will deliver electricity, space heating, domestic hot water and air conditioning to the building's common elements. In addition to the aforementioned benefits, the Tecogen system will offer a level of redundancy in the event of grid failure and blackouts by providing continual energy to essential services for the 26-story building. The reliability, control and efficiency provided by the Tecogen system is expected to significantly reduce the building's operating costs and carbon foot print.
The system will consist of two natural-gas engine driven Tecogen InVerde 100 kW cogeneration units featuring Tecogen's patent pending ultra-low emissions controls and an 80 ton absorption chiller. Tecogen will be the sole provider for the all-inclusive Brevoort East turnkey package, including engineering, permitting, installation, startup and maintenance.
"In addition to the benefits of being more energy efficient and environmentally friendly, the expected cost savings generated by the Tecogen CCHP system will be used to establish an annuity for our current and future shareholders," said Jay Silverzweig, board member and chairman of the infrastructure committee for the Brevoort East. "A considerable amount of due diligence was conducted prior to selecting Tecogen as the foundation for this project."
This project began with a feasibility study coordinated by the board of directors, resident manager Bob Miller and managing agent Orsid Realty. The CCHP project was determined to be practical for the building and eligible for a New York State Energy Research and Development Authority (NYSERDA) grant which covered approximately 50% of the total system cost. With the board's direction, the project was facilitated by Orsid Realty.
The 200kW Tecogen CCHP system is fueled by clean natural gas. Besides the ultra-low emissions technology, the two InVerde cogeneration units will come pre-packaged with Tecogen's proprietary inverter and CERTS microgrid management technology. The InVerde units will convert natural gas to electricity while capturing and re-purposing the heat created in the process with 90% efficiency (an average electric utility has an efficiency of below 30%). Use of the captured heat displaces the use of boiler heat for domestic hot water and space heating. During warmer weather, the 80 ton absorption chiller will convert the captured heat into free air conditioning. The co-op has central air conditioning, and this feature alone will save a significant amount of money.
"Although we have yet to break ground for this project, we are thrilled with the level of expertise, the knowledge base and attention to detail that Tecogen has brought to the table thus far," added Rob Mellman, the director of facilities administration from Orisd. "We've been working closely with Joe Gehret from Tecogen and we cannot say enough about his responsiveness and professionalism. Having a single point of accountability, when embarking on a project such as this, is unique and welcome. If we have any questions or concerns regarding any aspect of the project from equipment and installation to function and maintenance, we only need to make one phone call."
Tecogen manufactures highly efficient, ultra-clean Combined Heat and Power products including natural gas engine-driven cogeneration, air conditioning systems, and high-efficiency water heaters for industrial and commercial use. Tecogen has an installed base of more than 2,200 units, supported by an established network of engineering, sales, and service personnel across the United States. For more information, please visit www.tecogen.com.
The Consortium for Electric Reliability Technology Solutions (CERTS) is an industry/university/government cooperative group that researches, develops, and disseminates new methods, tools, and technologies to protect and enhance the reliability of the U.S. electric power system. The CERTS Program Office is located at Lawrence Berkeley National Laboratory.
FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and in Securities and Exchange Commission filings. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
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SOURCE Tecogen Inc.